TORONTO – TeraGo Inc. ("TeraGo" or the "Company") (TSX: TGO) (www.terago.ca), is on track to complete its planned 5G core network expansion projects for 2021, in preparation for deploying 5G fixed wireless access services to its existing customer base and 5G private networking applications for new customers.
Using proceeds from the capital raise completed earlier this year, TeraGo has been investing capital to increase capacity and throughput in its core network and to its wireless hub sites. This initiative is necessary to provide the network bandwidth that 5G fixed wireless access and private networks will require. 5G private networking applications are expected to take advantage of the security, high speed, and low latency that TeraGo's licensed mmWave spectrum offers. To enable these new applications, TeraGo is expanding its overall network capacity this year by five to six times its pre-expansion levels.
"We continue to diligently work through our network upgrade plan, which includes over 50 projects that we expect to complete by year-end," said Matthew Gerber, Chief Executive Officer at TeraGo. "Some of these projects include things like new fiber optic connections to our hub sites and core network link upgrades to 100 Gbps. We have completed over 40 of these projects to date and are currently on track to achieve our project objectives by the end of the calendar year. We will continue to target installing some of our first customer pilot installations over the next couple of months and remain confident in our ability to establish TeraGo as one of the first operators to launch commercial mmWave 5G fixed wireless and private networking services in Canada."